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Jan 20, 2013
01/13
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it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all looking forward to witnessing the president's inauguration on monday, we thought we'd look back through history at some inauguration firsts. this inauguration will mark the 57th time a president has been sworn into office and like any national tradition, the ceremony has evolved. george washington's inauguration was not only a first for our country, but also the first and only to be rescheduled because congress delayed the election. andrew jackson was first sworn in on the east side of the capitol building and ronald reagan the first on the west. the shortest inauguration dress was george washington's second. six presidents have taken the oath outside washington. geo
it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all looking forward to witnessing the president's inauguration on monday, we thought...
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Jan 20, 2013
01/13
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WBAL
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sos that over $2 trillion in deficit reduction in two years. it doesn't get us all of the way there but largely, two thirds of the way there at least within a ten-year budget window. >> russ, what do you think? of course we are approaching this with caution. we know that there's going to be more back and forth. but in the middle of it all, we've got earnings season. and you know, already some people are saying that this anticipation of all of these cliffs, cliff after cliff, has already impacted the earnings period. what are you looking at, what are you seeing from the fourth quarter reporting season so far? it's been a big week obviously this week for financials. >> we're seeing decent performance. again, i think compliments to corporate america because they been able to grind out strong earnings growth with a relatively weak recovery. and margins remain much higher than people thought and this has helped. we are seeing recovery in the rest of the world, and that has helped. it's going to be a decent year. i don't think the problem is the traj
sos that over $2 trillion in deficit reduction in two years. it doesn't get us all of the way there but largely, two thirds of the way there at least within a ten-year budget window. >> russ, what do you think? of course we are approaching this with caution. we know that there's going to be more back and forth. but in the middle of it all, we've got earnings season. and you know, already some people are saying that this anticipation of all of these cliffs, cliff after cliff, has already...
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Jan 20, 2013
01/13
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you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i agree. and in fact, there is a bill that i am co-sponsoring, the full faith and credit act, which provides that, regardless of what happens to the debt ceiling, the united states will always, always, always meet its debt. we will never default on its debt. that was introduced in 2010. it didn't pass because harry reid and president obama didn't want it to pass. they wanted to raise the specter of a default to use. so, chuck, you and i could make news right now on national television, would you agree to support the full faith and credit act and take the possibility of a default off the t
you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i...
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Jan 18, 2013
01/13
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you get to pay off our deficit. >> "the suze orman show" airs saturday night at 9:00 p.m. and 12:00 a.m. but you already knew that. >> we're taking a walk on the wild side with patrick monihan. >> no, kate, don't do it. . good morning, i'm meteorologist crystal egg erwith the weather channel. let's get your forecast through the weekend and for much of next week. one thing you'll notice, no rain, no snow on the map across the southeast. our storm is quickly moving out. winter storm iago coming to an end. that means the sun is returning finally after a lot of gloomy days in the southeast. our focus will shift across the, areas with lake effects snow and much colder air coming into the northern states by the end of the weekend. 43 in chicago today. not too bad. in fact getting up to 54 in atlanta with sunshine. not a terrible friday. could be a lot worse. temperatures are coming back closer to average now. we'll have really warm weather in the southwest. about 75 for you in phoenix, 72 in los angeles. chicago enjoy those temps in the 40s because eventually this cold air makes
you get to pay off our deficit. >> "the suze orman show" airs saturday night at 9:00 p.m. and 12:00 a.m. but you already knew that. >> we're taking a walk on the wild side with patrick monihan. >> no, kate, don't do it. . good morning, i'm meteorologist crystal egg erwith the weather channel. let's get your forecast through the weekend and for much of next week. one thing you'll notice, no rain, no snow on the map across the southeast. our storm is quickly moving...
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Jan 19, 2013
01/13
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>> reporter: the biggest challenge is to secure economic stability, deal with the debt and deficit situation, the standoff he has with republicans. and then get washington out of the way so that the economy can take off. they're their are good signs that the economic recovery is getting into a fairly healthy territory. but the threat to confidence, the uncertainty around the recurring crises we've had over the debt limit, over the fiscal cliff have been an impediment. if he can get that out of the way, he could then move to some of his other priorities and watch the economy grow over the next couple of years. >> i want to talk about the priorities in a second. you brought up this standoff. you know, one point, of course, there were democratic majorities in the house and senate, making it much easier to get some of those priorities through. now he only has the senate. how will that affect the president's wish list in the second term? >> well, he has the good fortune on the immigration issue which is one of his big priorities after the economic recovery and growth. from the fact that republica
>> reporter: the biggest challenge is to secure economic stability, deal with the debt and deficit situation, the standoff he has with republicans. and then get washington out of the way so that the economy can take off. they're their are good signs that the economic recovery is getting into a fairly healthy territory. but the threat to confidence, the uncertainty around the recurring crises we've had over the debt limit, over the fiscal cliff have been an impediment. if he can get that...
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Jan 13, 2013
01/13
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we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the focus on energy and evasion of education and infrastructure is important. every business i talked to said to me that we need, we look at, or locate incentives for innovation. do we have what we need to move our products and work force? is there an educated work force? they want to know -- and it starts with -- where is the infrastructure and advantage for innovation? i think we need to talk about that, because otherwise we're just looking at slash and burn, cut spending right now. the budget deficit commission said not a good i
we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the...
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Jan 19, 2013
01/13
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has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest and depen dense on the democratic party, there is no way for them to have validation. there is no way for them to have an aggressive watchdog that would normally, traditionally, historically be attacking the miss adventure of those in power. >> we agree that the media is in the tank. i'm almost stunned that you think, to quote you, everybody understands the issue. i will tell you why, you go right outside the fox news channel building now and you stop people and go what about the federal debt? come on. >> let me put it in some context. there was a time in this country and everybo
has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest...
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Jan 14, 2013
01/13
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed, and so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie collins. yeah. >> i would like to ask you now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding. another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably...
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Jan 15, 2013
01/13
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onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life miserable and they invested in billboards welcoming visitors famous as the second most dangerous city in california and it put his phone number at the bottom. keep in mind this is if you ended up going bankrupt because of unsustainable costs. this is all too familiar to the costa mesa mayor who joins me now. they moved in next to the city manager and they unleash a flurry of construction making all kinds of racket and bullying him at home. does this shock you are similar to something you went through as well? >> five years ago it would shock me. what you find out is these unions in a lot of public safety unions
onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life...
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Jan 18, 2013
01/13
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and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the world bank. i worked with bill frenzel on trade. bill archer was handling the tax material, mainly and bill was working on health care. i think a second major change that effects the debate is changing composition of the republican party. i think it has moved very much more to the right describe it from the days when i joined the committee. and i think that makes it very much more difficult to handle the problems that we have before us. so let me just comment briefly on where we are. you heard the president yesterday. we've had spending cuts of a billion and a half or tril
and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the...
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Jan 15, 2013
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what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has launched a number of new programs to improve mental health services and increase awareness of the problem which the pentagon has now labeled an epidemic. >>> there's an unlikely voice entering the obesity debate. with local governments considering measures similar to mayor bloomberg's crackdown on large sugary drinks in new york city, soda giant coca-cola now stepping into the conversation. coke has unleashed a new ad campaign that defends its record while acknowledging the company's role when it comes to america's weight problem. nbc's chris jansing with the details. ♪ ♪ teach the world to sing to perfect har
what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has...
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Jan 14, 2013
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the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now, i've said i'm open to making modest adjustments to programs like medicare to protect them for future generations, and i've also said that we need more revenue through tax reform by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. turns out, the american people agree with me. they listened to an entire year's debate over this issue and they ma
the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now,...
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Jan 14, 2013
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we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressial republicans refuse to pay america's bills op time, social security checks and veteran benefits will be delayed. we might not be able to pay our troops, or honor contracts with the small business owners. food inspeckors, air traffic controllers. specialist wos track down loose nuclear teles wouldn't get their paychecks. invesors around the world will ask i
we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model...
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Jan 14, 2013
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. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and it's not a reduction in baseline, it's a reduction in the rate of growth of spending, which is again suffocating to the private economy and unsustainable over the course of the next several years. >> megyn: one thing we did hear the president reference personally, we heard it from nancy pelosi prior, but the president personally talking about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking for
. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and...
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Jan 15, 2013
01/13
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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Jan 17, 2013
01/13
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
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Jan 19, 2013
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he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill tonight. what's behind this house republican plan. >> bill, a lot of g.o.p. frustration has been based on the fact the senate has not passed a budget. so republi
he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the...
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Jan 14, 2013
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starting lineup top sports stories talk about a roller-coaster ride seattle coming back from a 20 point deficit. they go with a second hail mary. atlanta wins. pate yos one whi -- patriots on away. they beat the texans. the time 41 after the hour. still ahead everyone is being forced to get health insurance or pay a fee. now it turns out obama care has more hidden secrets for taxpayers. do you want to know what it is like to be a prince or princess? it may be more of a cinderella story than a fairy tale. >> insurance companies say there has to be a mandate to make it cost effective. we have story. >> the affordable care act may get beefed up even more if insurance companies get their way. it is key to making the new law work by offsetting the cost to help six people as well. the penalty for not getting insurance is $95 or one percent of the income. in 2015 it will be $325 or two percent of your income. still much less than the cost of insurance. at those rates many healthy people will on the to forego insurance especially since they know if they get sick down the road they will not be turned aw
starting lineup top sports stories talk about a roller-coaster ride seattle coming back from a 20 point deficit. they go with a second hail mary. atlanta wins. pate yos one whi -- patriots on away. they beat the texans. the time 41 after the hour. still ahead everyone is being forced to get health insurance or pay a fee. now it turns out obama care has more hidden secrets for taxpayers. do you want to know what it is like to be a prince or princess? it may be more of a cinderella story than a...
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Jan 17, 2013
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what i'm told is that we can expect to touch as you might expect on deficits and debt. on immigration and gun control. but he is also going to address our seemingly broken politics. you have to remember the inaugural address is part of a large day of events and the people who are organizing it well placed democrats tell me that they are trying to make sure that one appeared, including the president. no one appears to b the football. they don't want people watching at home as one democrat said to me to get the idea that oh, he, meaning the president, is having a big party while the rest of us are still mired in a financial crisis, bill. >> bill: yeah. they are even having trouble filling the party. the address is monday night. we will be live on the factor. we have a really good lineup. i have seen a change in the demeanor as i said to senator rubio of president obama. is he a little more in your face than he was before the election. just real quick, rosen, you have seen that change? >> yeah. and i think the nomination of chuck hagel shows it. >> bill: okay. now, cammero
what i'm told is that we can expect to touch as you might expect on deficits and debt. on immigration and gun control. but he is also going to address our seemingly broken politics. you have to remember the inaugural address is part of a large day of events and the people who are organizing it well placed democrats tell me that they are trying to make sure that one appeared, including the president. no one appears to b the football. they don't want people watching at home as one democrat said...
SFGTV2: San Francisco Government Television
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Jan 19, 2013
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there is a misplaced obsession with debt and deficits as the national emergency of our time. that has driven the story line inside the beltway. we did a story on how the austerity cost rules washington. it is a portrait of think tanks, philanthropists and others who have framed in a way so it is hard to tell an alternative story. that has shifted a little because of new voices and forces emerging from the 99% or what ever you want to call it. >> you had better have twitter and facebook involved in the project. >> we do, absolutely. we have all kinds of new media. i agree you need to use all of that. it has been a very powerful force. we use all of that at "the nation. " we have a correspondent right about this in a politically. at occupy wall street in new york a few miles from our office, one thing that struck our correspondent was how many young people came to the square and were caught up in conversations, talking to people and the general assembly's, conversations. so many people have lived in front of their laptop or been part of the new media that the ability to communi
there is a misplaced obsession with debt and deficits as the national emergency of our time. that has driven the story line inside the beltway. we did a story on how the austerity cost rules washington. it is a portrait of think tanks, philanthropists and others who have framed in a way so it is hard to tell an alternative story. that has shifted a little because of new voices and forces emerging from the 99% or what ever you want to call it. >> you had better have twitter and facebook...
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Jan 16, 2013
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it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that it's not as concerning as it was when you raised that term initially? >> as i said, the fiscal cli
it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that...
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Jan 15, 2013
01/13
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FBC
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gerri: and deficits far as the eye can see. clearly this is a situation that cannot continue forever. they have said let's take it to the court. what do you make of that strategy? >> is a losing strategy. there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a baland approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying it will balance the budget. we have to start the conversation, this is a good place to start making inroads. that is when republicans really have to draw the line in the sand. gerri
gerri: and deficits far as the eye can see. clearly this is a situation that cannot continue forever. they have said let's take it to the court. what do you make of that strategy? >> is a losing strategy. there is a reason that debt ceiling raised with congress. that is a reason they have to start using the president's language and site we have to have a baland approach. if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a...
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Jan 14, 2013
01/13
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 14, 2013
01/13
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the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the speaker has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure we are reducing the health care spending, the main driver of the deficit, we can arrive at a package to get this thing done. i am happy to have that conversation. what i will not do is to have that that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you have medicare or medicaid or otherwise/things that the american people do not believe should be slashed that we will threatened to wreck the entire
the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the...
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Jan 19, 2013
01/13
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FOXNEWS
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>> i think one thing that is clear this time around, the american people voted to reduce the deficit in a balanced way. they voted to pass the comprehensive immigration reform . 90 percent of the american public supports universal background checks and one of the things that campaign supporters will make sure, he has a man date every time to enact the changes and the house republicans are responsive to what the american people voted for and public opinion is . you will see a lot of the ground support in the weeks ahead. >> let me ask you a question. what about the divide that remains between the president and republicans? will he make more of an effort to find common ground? >> i think the president certainly has done an outreach on both sides of the aisle and on issue after issue, he's willing to put a traditional democratic party orthodoxy to pass it in a bipartisan way. this ultimately is a bipartisan organization that seeks support from both sides . the president is not going to abandon his core principles and he's not going to reduce the deficit on the backs of the poorest citiz
>> i think one thing that is clear this time around, the american people voted to reduce the deficit in a balanced way. they voted to pass the comprehensive immigration reform . 90 percent of the american public supports universal background checks and one of the things that campaign supporters will make sure, he has a man date every time to enact the changes and the house republicans are responsive to what the american people voted for and public opinion is . you will see a lot of the...
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Jan 17, 2013
01/13
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FOXNEWS
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>> let me just say that the president has already sign into law about $2.4 trillion worth of deficit reduction and three-quarters of that -- >> wars we stopped fighting, already factored in. >> a bunch of that is for spending cuts. not necessarily spending cults i really -- cuts i like but spending cuts nonetheless. >> you disagree with him when he says we don't have a spending problem? >> no. i think we do have certain things we can cut in spending, but in fact right now, i think the crisis we have right now is a jobs crisis. i think it's an income inequality crisis in our country. i think there's an investment crisis. we don't talk enough, neil, about the third leg of debt reduction, which is not only spending, not only raising revenue, but growth in the economy. and you know? this debt ceiling issue is just crazy. i stand -- >> was it crazy seven years ago when your democratic colleague voted against raising it? was it crazy then? >> well, except it wasn't real and this is real. the last final -- >> real is in the eye of the beholder. >> no, no. >> i guess it's -- >> it was more -
>> let me just say that the president has already sign into law about $2.4 trillion worth of deficit reduction and three-quarters of that -- >> wars we stopped fighting, already factored in. >> a bunch of that is for spending cuts. not necessarily spending cults i really -- cuts i like but spending cuts nonetheless. >> you disagree with him when he says we don't have a spending problem? >> no. i think we do have certain things we can cut in spending, but in fact...
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Jan 17, 2013
01/13
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that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross domestic product. you can see right in the middle of that graph, in 2012, the gross debt of the united states has now reached 104%. why does that matter? the best academic research, a book by rogoff of harvard, reinhard, the university of michigan i think she was when she did the study, look at 200 use of economic history. and concluded once you get a gross debt of more than 90% of your gross domestic product, your future economic prospects are dramatically reduced. future economic growth is reduced anywhere from 25 to 33%. so these are not just numbers
that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross...
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Jan 19, 2013
01/13
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FBC
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.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 million with panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the pension obligations. >> not sandy know, vallejo, a compton, a stockton or any of their city. they are failing. john: i hear there is more civil society? volunteers working in the animal shelter, park maintenance, a neighborhood watch is starting to blossom? >> bay plant their city back. they take it themselves. so the private solution is always better. john: that is where you go when the government spends of the many. next we take this problem and see what it does to the whole state. it is not pretty and. john: california is paradise for government workers. h
.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 million with panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the...
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Jan 13, 2013
01/13
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KQED
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he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's right. >> now, is lew the guy that can do this for him? can he protect him and keep him alive in the sense of politically alive, of course, and keep him vibrant as president? >> look, up to a degree, he can do that. but ultimately still most of the major policy is at the desk of the president. when he said that he was the man who was responsible for three surpluses under bill clinton, let me tell you, bill clinton had three different programs to reduce the budget deficit and bring about that. so it was a presidential decision. it's no
he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's...
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Jan 16, 2013
01/13
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MSNBCW
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we didn't have a deficit and debt crisis the way we do right now. let's be fair about the facts. we are in a debt crisis. however, when something like this happens, it's an exception to the rule. these people are hurting. they need the help of the federal government, and that's what we're going to deliver today. the bottom line is we're going to move forward and get this done. >> you know, i have been blessed to get to know some of the really good people up in your borough like teddy atlas and your borough president. they're doing great work. tell us how bad it is. we're looking at pictures of the people under water during the flood. have just been devastated. i saw some of that stuff on your own island of staten island a couple weeks ago, it was really rough. >> it's horrendous. this is a war zone. let me be clear, don't forget about -- you see homes crushed. you see people's personal belongings wiped out to sea, but there's also emotional scars that you cannot see. just this past weekend i had a mother tell me her children are deathly afraid when it rains because they think the
we didn't have a deficit and debt crisis the way we do right now. let's be fair about the facts. we are in a debt crisis. however, when something like this happens, it's an exception to the rule. these people are hurting. they need the help of the federal government, and that's what we're going to deliver today. the bottom line is we're going to move forward and get this done. >> you know, i have been blessed to get to know some of the really good people up in your borough like teddy...
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Jan 14, 2013
01/13
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and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably stable government, you have a lot of running room on these things. so am i worried? yeah, i mean, i am worried about the u.s. fiscal situation 20 years from now. we do have a problem of health care costs and so on. but, you know, i'm worried about a lot of other things 20 years as well. i'm not sure that even if you take that long term perspective, that the budget should be at the top of your list of things to be afraid of. i'm a lot more afraid, actually, of the great -- the entire southwest of the united states turning into a dustbowl because of
and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably...
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Jan 14, 2013
01/13
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CNNW
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 21, 2013
01/13
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FBC
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david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think you have to think of this inaugural as having messages for both republican opposition and also his own base. i think the message to republicans was look, i have an agenda for a second term. it is going to include some things we didn't get around to like climate control in the first term because we were dealing with an economic crisis, and to his base he's saying look i'm not going to give in, i'm not going to cave because he's under some pressure from the left from people who say you have given up too much, you haven't talked about the poor enough. david: there are other democrats who are say
david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think...
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Jan 19, 2013
01/13
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FBC
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i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you. the whole process soils you, oh, my god, i can't deal with it, it is so stupid? >> it is difficult because i found in my own experience when you're very authentic and tell the truth and honest often times get attacked. you get smeared, you, very difficult. takes a lot of courage, i think to go into the political realm these days. neil: will be interesting. put it that way. john mackey. whole foods market cofounder, co-ceo. conscience capitalism. read it. thought to paper and thought that sticks in your head. all right. inauguration on monday. we are there. i'm there all day. we'll get ther
i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you....
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Jan 16, 2013
01/13
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CNBC
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the deficit isn't the product of spending. the economic down turn has left americans making less money in terms of spending. >> we spend each year more than we brought in. >> spending and revenue. our revenue has decreased and american -- >> i got to go. >> i got to go. >> spending budgets they have gone up under president obama and have held at $3.5 billion each year. >> i got to go. we can continue it another time. >> but it is also economic growth which it self might be a function of taxes and spending. if this economy were growing, you would have a substantially lower budget deficit. gentlemen we will welcome you back another time. >> there is at least one state in the northeast that gets it. natural gas shale and it is pennsylvania and the republican governor tom corebet is about to join us. he picks up support from chuck schumer who didn't get an apology for the anti-israel statements. if we were growing at 5% instead of 2% we would be close to a balanced budget today. i'm kudlow we will be right back. at 1:45, the aflac
the deficit isn't the product of spending. the economic down turn has left americans making less money in terms of spending. >> we spend each year more than we brought in. >> spending and revenue. our revenue has decreased and american -- >> i got to go. >> i got to go. >> spending budgets they have gone up under president obama and have held at $3.5 billion each year. >> i got to go. we can continue it another time. >> but it is also economic growth...
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Jan 17, 2013
01/13
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we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a deficit, an important urgent need to address the issue of energy and independence and opportunity that's sitting right in front of us ready to be advanced in the next year or two, but that requires leadership and initiative in washington and immigration reform, again, the subject that was discussed before. one more word, finally, about the process. for this, i go back to an earlier part of my life as a professor of law and one of the subjects i taught every year was negotiation. negotiation of a variety of contacts from international to commercial and transactional to labor management dispu
we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a...